Deere (DE) Beats On Q3 Earnings, Misses Sales, Raises View
Zacks Investment Research | Aug 18, 2017 12:32AM ET
Deere & Company’s (NYSE:DE) third-quarter fiscal 2017 (ended Jul 30, 2017) earnings surged around 27% year over year to $1.97 per share. Earnings also beat the Zacks Consensus Estimate of $1.93.
Net sales of equipment operations (which comprise Agriculture and Turf, Construction and Forestry) came in at $6.833 billion, jumping 17% year over year. Revenues, however, lagged the Zacks Consensus Estimate of $6.885 billion.
Price realization had an impact of 1% in the quarter. Foreign-currency rates did not have a material translation effect on net sale. Region wise, equipment net sales increased 11% in the United States and Canada, and 25% in the rest of the world. Total net sales (including financial services and others) were $7.808 billion, up 16% year over year.
Deere & Company Price, Consensus and EPS Surprise
industry with respect to price performance in the past year. The stock gained 61.1%, while the industry recorded growth of 54.3% over the same time frame.
Zacks Rank and Other Key Picks
Currently, Deere carries a Zacks Rank #2 (Buy).
Other top-ranked stocks in the same space include AGCO Corp. (NYSE:AGCO) , Apogee Enterprises, Inc. (NASDAQ:APOG) and Caterpillar Inc. (NYSE:CAT) . All three stocks sport a Zacks Rank #1 (Strong Buy). You can see .
AGCO has expected long-term growth rate of 13.51%.
Arista Networks has expected long-term growth rate of 12.50%.
Caterpillar has expected long-term growth rate of 9.50%.
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